Sensex Gives Up 113 Points On Profit Taking

October 5, 2016 – Indian shares succumbed to some profit taking today, as fears of Brexit fallout, Fed rate uncertainty and fresh worries over possible monetary tightening by the European Central Bank kept investors’ appetite in check.

ABG Shipyard soared almost 8 percent after ICICI Bank acquired an 11.08 percent stake in the company pursuant to the conversion of compulsory convertible preference shares.Alembic pharmaceuticals rallied 2.5 percent after its formulation facility located at Panelav in Gujarat received the Establishment Inspection Report from the U.S. Food and Drug Administration.

Sunflag Iron & Steel and Monnet Ispat & Energy jumped around 7 percent each after the government extended the Minimum Import Price (MIP) regime on 66 steel items for a further period of two months.